Italy - Factors to watch on Sept. 15

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

For a complete list of diary events in Italy please click on .

ECONOMY

Bank of Italy releases July data on public finances, state borrowing and debt.

Bank of Italy Governor Ignazio Visco expected to attend conference on “Dialogue between believers and non-believers” in Assisi (1600 GMT).

TELECOM ITALIA

The government is ready to use its golden powers to keep Telecom Italia’s Sparkle unit under public control but is prepared to leave to the incumbent its backbone network, La Repubblica said. (*) The government could buy a stake in Sparkle and appoint one or two board members, La Stampa said.

(*) MEDIASET

The trust that will manage the stake of around 20 percent of Mediaset that Vivendi will transfer to meet watchdog demands could be GBL Fiduciaria, owned by Banca Leonardo, Il Messaggero said.

CAMPARI

The drinks company has launched a process to sell its soft drinks business, Il Sole 24 Ore said, citing rumours. The company has mandated Rabobank for the sale, it said, citing Dealreporter. The deal, which would be of interest to the multinationals rather than private equity, could be worth less than 100 million euros, it said.

FINCANTIERI, LEONARDO

The treasury, industry and defence ministers will meet on Friday to discuss the idea of including defence group Leonardo in a pact between Italian shipbuilder Fincantieri and French companies Naval Group and Thales, La Repubblica said.

BANCA CARIGE

Non binding offers for the 1.4 billion euros bad loan portfolio Carige is selling complete with management platform are due on Monday, Il Sole 24 Ore said. About 25 investors have been invited to take part, including the funds Fortress, Cerberus, Pimco-GWM and TPG.

PIRELLI IPO

Italian tyremaker Pirelli unveiled plans on Thursday to raise as much as 3.3 billion euros ($3.9 billion) on its return to Milan’s stock market next month, in a public offer that values the company at less than it had originally hoped for.

Tyremaker Pirelli has given up on what sources say was an initial valuation goal of 9 billion euros ($11 billion) ahead of its return to Milan’s stock market next month, after several fund managers baulked at paying such a lofty price.

Market regulator Consob is expected to approve the prospectus on Friday and the road show will begin on Monday, Il Sole 24 Ore said.

BANCO BPM

The bank said on Thursday it had launched a new subordinated “Tier 2” transaction with a 10 year maturity - callable after 5 years - and a size of 500 million euros. It said the order book came in at around 1 billion euros, with Italy accounting for 63 percent and UK and Ireland for 18 percent, among others. (*) IREN

The cities of Genoa and Turin, which control the multiutility, are ready to sell a stake of 5.5 percent of Iren to raise around 153 million euros which would take their holding to below 50 percent, Il Sole 24 Ore said.

(*) MAIRE TECNIMONT

Arab Development Establishment has sold a 5 percent stake in Italy’s Maire Tecnimont at 4.9 euros per share, two traders said on Friday.

MEDIOBANCA

Board meeting on FY results (already released on Aug. 4).

NETWEEK

The company, formerly called Dmail Group Spa, said on Thursday it had become aware on Thursday that its chairman, Vittorio Farina, has been arrested over allegations of fraudulent bankruptcy. It said the allegations related to events that pre-dated his joining Netweek and concerned a company that was in no way linked to Netweek. The company’s management said it was confident Farina would fully clarify his position with respect to the allegations.